Question: The following information relates to activities in the mixing departments for June: Beginning WIP, June 1, 100,000 pounds. Cost in beginning WIP inventory were as follows:
Materials = $20,000
Labor = 10,000
Overhead = 30,000
Ending WIP, June 30, 50,000 pounds, 100% complete with respect to material costs and 40% complete with respect to conversion costs. Units completed and transferred out totaled 370,000 pounds. The following costs were added during the month:
Materials = $211,000
Labor = 100,000
Overhead = 269,500
a. Prepare a physical flow schedule
b. Prepare a schedule of equivalent units
c. Compute the cost per equivalent unit
d. Compute the cost of goods transferred out and the value of the ending WIP inventory